NAFTA trade hits high mark in March
Jun 1, 2006 10:33 AM
NAFTA trade using surface transportation reached $68.2 billion in March this year, the highest monthly level ever recorded since the North American Free Trade Agreement was signed in the mid 1990s, according to Bureau of Transportation Statistics (BTS).
The trade between the United States and its NAFTA partners, Canada and Mexico, was 14.8 percent higher in March 2006 than in March 2005. Surface transportation consists largely of freight movements by truck, rail and pipeline. About 90 percent of US trade by value with Canada and Mexico moves on land.
Total North American surface transportation trade rose 14.1 percent in March from February. The previous monthly high was $64.0 billion in October 2005.
United States–Canada surface transportation trade totaled $44.0 billion in March, up 11.4 percent compared to March 2005. The value of imports carried by truck was 8.6 percent higher in March 2006 than March 2005, while the value of exports carried by truck was 13.3 percent higher.
In March, Michigan led all states in surface trade with Canada for a total of $6.7 billion.
United States-Mexico surface transportation trade totaled $24.2 billion in March, up 21.5 percent compared to March 2005. The value of imports carried by truck was 18.1 percent higher in March 2006 than March 2005 while the value of exports carried by truck was 21.9 percent higher.
Texas led all states in surface trade with Mexico in March with $7.7 billion.
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